SEMPER AUGUSTUS INVESTMENTS GROUP LLC

Family Office

SEMPER AUGUSTUS INVESTMENTS GROUP LLC is a Family Office led by Patrick Olivier Guest, managing $800.5M across 37 long positions as of Q3 2025 with 81% concentrated in top 10 holdings and 16% allocation to BRK.B.

CEOPatrick Olivier Guest

Portfolio Value: $800.5M
Positions: 37
Top Holding: BRK.B at 15.72%
Last Reported: Q3 2025

Address705-320 Bay Street, Toronto, M5H 4A6, Canada

Top Holdings

Largest long holdings in SEMPER AUGUSTUS INVESTMENTS GROUP LLC's portfolio (80.7% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Berkshire Hathaway BRK.B	Insurance - Diversified Financial Services	$125.8M	15.72%	+$1.8M Bought	0.01% 250.2K shares	Q4 2019 Held for 5y 11m
2 Dollar General DG	Discount Stores Consumer Defensive	$95.7M	11.95%	-$30.3K Sold	0.42% 925.8K shares	Q1 2017 Held for 8y 8m
3 Berkshire Hathaway BRK.A	Insurance - Diversified Financial Services	$87.5M	10.93%	—	0.01% 116.0 shares	Q4 2019 Held for 5y 11m
4 Kinross Gold KGC	Gold Basic Materials	$64.4M	8.04%	-$12.3M Sold	0.21% 2.6M shares	≤ Q2 2013 Held for 12y 5m+
5 Newmont NEM	Gold Basic Materials	$57.2M	7.14%	+$5.2K Bought	0.06% 678.2K shares	≤ Q2 2013 Held for 12y 5m+
6 Olin OLN	Chemicals - Specialty Basic Materials	$48.1M	6.01%	+$28.2M Bought	1.68% 1.9M shares	Q3 2019 Held for 6y 2m
7 Five Below FIVE	Specialty Retail Consumer Cyclical	$47.7M	5.96%	-$2.2M Sold	0.56% 308.3K shares	Q2 2024 Held for 1y 5m
8 Dollar Tree DLTR	Discount Stores Consumer Defensive	$47.7M	5.96%	-$116.9K Sold	0.25% 505.2K shares	Q3 2021 Held for 4y 2m
9 Deckers Outdoor Corporation DECK	Apparel - Footwear & Accessories Consumer Cyclical	$38.0M	4.75%	+$16.7M Bought	0.25% 374.8K shares	Q2 2025 Held for 5 months
10 Valero Energy VLO	Oil & Gas Refining & Marketing Energy	$34.0M	4.24%	+$139.6K Bought	0.06% 199.5K shares	Q4 2020 Held for 4y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in SEMPER AUGUSTUS INVESTMENTS GROUP LLC's latest filing

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Market Value

$800.5M

Prior: $710.6M

Q/Q Change

+12.64%

+$89.8M

Net Flows % of MV

+3.09%

Turnover Ratio

6.21%

New Purchases

1 stocks

$12.5M

Added To

11 stocks

+$49.5M

Sold Out Of

1 stocks

$21.7M

Reduced Holdings

12 stocks

-$15.6M

Increased Positions

Position	Shares Δ	Change
1 PSKY Paramount Skydance Corporation Class B Common Stock PSKY	New	0 → 659.3K +$12.5M
2 Olin OLN	+141.3%	797.4K → 1.9M +$28.2M
3 Deckers Outdoor Corporation DECK	+78.05%	210.5K → 374.8K +$16.7M
4 GLDM SPDR Gold MiniShares Trust GLDM	+16.84%	17.0K → 19.9K +$218.9K
5 EQNR Equinor EQNR	+12.45%	510.2K → 573.7K +$1.5M

Decreased Positions

Position	Shares Δ	Change
1 Paramount Global PARA	Sold	1.7M → 0 −$21.7M
2 iShares 0-3 Month Treasury Bond SGOV	-31.53%	8.1K → 5.6K −$258.1K
3 Kinross Gold KGC	-16.1%	3.1M → 2.6M −$12.3M
4 Costco Wholesale COST	-8.84%	3.8K → 3.4K −$308.2K
5 American Express AXP	-7.36%	4.4K → 4.1K −$108.3K

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Analytics

Portfolio insights and performance metrics for SEMPER AUGUSTUS INVESTMENTS GROUP LLC

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Sector Allocation

Financial Services

27.50%

Basic Materials

21.20%

Consumer Defensive

18.40%

Consumer Cyclical

13.20%

Energy

7.60%

Industrials

5.00%

Communication Services

2.10%

Technology

0.50%

Healthcare

0.50%

Utilities

0.30%

ETF

0.10%

Market Cap Distribution

Mega Cap (> $200B)

31.31%

Large Cap ($10B - $200B)

49.81%

Mid Cap ($2B - $10B)

16.65%

Micro Cap ($50M - $300M)

0.17%

N/A (ETF or Unknown)

2.05%

Portfolio Concentration

Top 10 Holdings %

80.7%

Top 20 Holdings %

97.35%

Top 50 Holdings %

100.0%

Top 100 Holdings %